ShareGrid, the U.S.-based market for sharing, shopping for and promoting movie and images gear, has acquired the U.Okay’s BorrowFox as a part of its worldwide enlargement plans.
BorrowFox operates a “peer-to-peer” movie and digital camera rental group that lets folks lease out their under-utilised gear.says it expects to launch within the U.Okay. in 2020 (the place it should compete with the likes of Fats Lama).
Phrases of deal stay undisclosed, though I perceive ShareGrid is buying all of BorrowFox’s belongings outright. The 2 firms aren’t disclosing if it was a money or inventory deal or combination of the 2, or who BorrowFox’s buyers had been.
In the meantime, I’m instructed that BorrowFox’s founders, Arthur Pierse and Alastair Woods, gained’t be becoming a member of ShareGrid.
Within the U.S. ShareGrid lets customers lease movie and digital camera gear from one another, together with cinema cameras, nonetheless cameras, lenses, audio gear, drones, lighting gear, gimbals and different equipment, in addition to studio areas, areas and manufacturing automobiles.
The concept behind the service is to assist creatives entry world-class gear at decrease rental charges, and earn an revenue from their unused gear. The corporate additionally gives a buy-and-sell service, customized manufacturing quotes, and immediate insurance coverage, appearing as a “one-stop store” for filmmakers, photographers and manufacturing professionals.
Following the acquisition, ShareGrid says it should host over 100,000 customers, with greater than $1 billion price of movie and digital camera gear accessible on its mixed platform. As soon as the acquisition full and ShareGrid has launched within the U.Okay., current BorrowFox members might be requested to switch their account to ShareGrid.
“At ShareGrid, our mission is to allow all filmmakers and photographers, no matter background, price range or location, to have entry to cutting-edge and reasonably priced gear,” says Marius Ciocirlan, co-founder and CEO of ShareGrid in a press release. “We see the acquisition of BorrowFox as an thrilling alternative to enter the U.Okay. market, and construct on an organization that has had an analogous imaginative and prescient from the beginning”.